All Forum Posts by: Baird King

Hi Whitney & Laurie - I invest in short term, mid term and long term rentals in SB and Ventura and am always happy to chat. I can vouch that Peter and Tony are great resources as well, and I will see you at Peter’s meetup if you join. I host a meetup in Santa Barbara. Next one is tonight if you can make it: https://www.biggerpockets.com/forums/521/topics/1162404-sant...

DM me if you want to be added to the email list or have any questions I could help answer. All the best getting started!

Yew @Alex Bekeza.  Looking forward to it!

Happy new year everyone! Since we had to cancel the December meetup due to the storms, the official 30th Santa Barbara Real Estate Investor Meetup will take place at Third Window Brewing Co. on Thursday, January 18th from 6-8pm. We will be in the front patio area across from the bar. Look for the sign similar to the above banner and call/text me (Baird) at 805-705-5667 or Val at 805-215-6733 if you are having trouble finding the group.

We are a group of real estate investors of all experience levels who get together each month to share stories, experiences, leads, etc. Whether you have only started dreaming of your first property, or just closed on your 100th; whether you invest out of state, or keep it local, we look forward to having you join.

We kick the evening off with quick group introductions so be ready to tell the group one thing you are seeking, and one area where you can provide value (everyone has something to give).

RSVP here AND post a response if you plan on joining so we know who to look out for and to help promote the event. Call/text Baird at 805-705-5667 or Val at 805-215-6733 if you have any questions.

NOTE: If you would like to be included on the list to receive future invitations via email, please direct message me your email address and keep an eye out for emails from [email protected].

Photos from November 2023:

 Great, thank you Noah! Glad to hear it too, as I registered for Multifamily yesterday. Happy new year.

Hi @Noah Bacon. I would like to sign up for either multifamily or BRRRR and am hoping you can provide some guidance/advice as to which would be the better fit. I currently own small multifamily which have been BRRRRs, so I am already very familiar with the BRRRR process. I do not own any large multifamily and have not participated in any syndication. I would like to move into the mid-size multifamily space (~8-24 units) in the somewhat near term, but I probably have a few more BRRRRs in me before then. I am not sure if/when I would move into multifamily larger than that. Bottom line - BRRRR will continue to be my focus for the near term, and I certainly have more to learn and ways to improve; however, I am concerned that the course may be too basic. Is there a lot of time spent on rehashing the basics of BRRRR outlined in David's book and discussed regularly on the podcast? Or do we get through that quick and into more advanced exercises for the majority of the course like practicing deal analysis, running numbers, finding/managing/contracting with contractors, corporate structure, etc? If BRRRR is too basic, I may opt for multifamily as a better fit, even though it is not likely in my near future, as I imagine much of the coursework will be directly transferrable to real estate at any scale. Thanks for your help!

EVENT CANCELLED!  I hate to have to do this but, for the first time ever, we need to cancel the event due to weather. Third Window is also closed. Stay safe out there and see you in the new year. Happy holidays!

The 30th Santa Barbara Real Estate Investor Meetup will take place at Third Window Brewing Co. on Thursday, December 21st from 6-8pm. We will be in the front patio area by the bar and old kitchen. Look for the sign similar to the above banner and call/text me (Baird) at 805-705-5667 or Val at 805-215-6733 if you are having trouble finding the group.

We are a group of real estate investors of all experience levels who get together each month to share stories, experiences, leads, etc. Whether you have only started dreaming of your first property, or just closed on your 100th; whether you invest out of state, or keep it local, we look forward to having you join.

We kick the evening off with quick group introductions so be ready to tell the group one thing you are seeking, and one area where you can provide value (everyone has something to give).

RSVP here AND post a response if you plan on joining so we know who to look out for and to help promote the event. Call/text Baird at 805-705-5667 or Val at 805-215-6733 if you have any questions.

NOTE: If you would like to be included on the list to receive future invitations via email, please direct message me your email address and keep an eye out for emails from [email protected].

Photos from November 2023:

Love the venue choice :-). Congrats on 1 year and going strong.

@Jacob Youngberg - this is a great way to get into real estate, but be ready for a bumpy ride. I purchased my first property in Santa Barbara as a house hack with a partner and my wife. The three of us built out an ADU, did some light rehab to the main house and redid the landscaping. All said and done we added 40% to the value of the property in one year which my wife and I were able to access to buy out our partner. Although everyone won financially in the end, the partnership was tough. Three real estate rookies stretched themselves to the absolute max financially in order to make this deal work. It had to come together quickly because that is what we needed to do to land a deal in SB, so we weren't as detailed in our partnership agreement as we probably should have been. Once we were in the deal and living together, it quickly came to light that my wife and I were way more interested in sweat equity. We busted our asses and he consistently resisted. It was an awkward and uncomfortable situation for all and escalated for the entire year. Coming to an agreement on price when we purchased his share of the property was not fun at all. He felt he deserved an equal 1/3rd of the value, but my wife and I did 90% of the rehab work, as well as finding the deal and the project management. Unfortunately this stuff was not explicitly included in our agreement. We ended up paying him close to 1/3 to make a clean cut, but our friendship basically dissolved in the process, despite everyone coming out on top. In the end, it was still the best decision I have ever made! Owning basically anything in SB is a home run over the long term in my opinion. If you do purchase a house hack with a partner, the easiest way to structure it would be to outsource all the work to professionals and split the cost equally. If you do any of the work yourselves, agree on an hourly rate or some other PM fee ahead of time and track your time meticulously!

I run the monthly RE investor meetup in SB.  If you are interested in finding partners, there are a number of folks who attend regularly who are also interested in partnering / house hacking.  I am also always happy to talk more about my experiences.  DM me your email address if you want to be added.

 Great, thanks Jennifer!